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a message to america and the message is [ muted ]. >> an exclusive interview with the man who turned hard core into hard time. >>> plus, going home with a porn star. she really is the girl next door, and we'll reveal her true identity. >>> but next, it could be a hollywood blockbuster. the most expensive porn film ever made. was it worth the investment? >>> and the problem that could bring an entire industry to its knees. >> when you get something for free, you never want to pay for it. >> "porn: business of pleasure" will be right back. ll this program containseeeee mature sexual content. viewer discretion is advised. >> melissa lee: this is the making of one of the biggest budget porn movies ever. an 80-foot pirate ship built >>> this is the making of one of the biggest budget porn movies ever. an 80-foot pyrochip built on a hollywood sound stage. sword fight training for the actors. elaborate sets and costumes. computer-generated fighting skeletons and killer monsters. and there's even a plot. >> my name is edward reynolds. >> to go along with the sex. "pirates 2: revenge" breaks
. there is a symbiotic relationship going on. the chinese need to buy the treasuries in order to ensure america stay ace float, in order to ensure that we suck in what they produce. >> i don't know that they have to buy the treasuries. as long as they buy dollars, if they shouldn't buy the treasuries, they're stuck with them. that takes them out of circulati circulation. the fed could turn around and print the same dollars again. there has to be a recalibration of kurn spips i think there's an expectation of summary valuation. its will not be of the order of magnitude necessary to correct the imbalances in the global economy. 5% to 10%, when you really need something much more dramatic than that and sustained over time. >> if i gave you $1,000 tonight to invest for your children in five year, where would you put it? >> i would put it in the u.s. stock market. i believe one way or another, we will find a way around this mess. if china doesn't revalue, we may end up doing it for them through some means like taxing dollar-yuan conversions. at some point, this situation will become intolerable. once that ha
that country is increasingly more important to america. and why they may not be listening quite as closely to if u.s. as they used to. and safe at home, playing ball with joe torre, and he will talk about his foundation and success and a little bit of baseball as well. the "wall street journal report" begins right now. >> this is america's number one financial news program, the "wall street journal report." now, maria bartiromo. >>> here's a look at what's making news. as we head into a new week on wall street, the american consumer may be in slightly better shape than many experts thought. retail sales for the month of october were released this week and an increase of 1.4%, nearly double what economists were looking for. that's important because consumers make up about 70% of the u.s. economy. the data helped push the markets up to a 13 month high on monday. they nudged higher again on tuesday but fell mid-week on weak economic data. there was mixed news on the inflation front. the producer price index which measure wholesale prices rose more slowly than expected. up .03% which points to
. america, what have i been say something let's just call it a show. >> yeah, let's go home. have some turkey. >> it won't happen if the banks don't have earnings. >> but they do. >> can i have a last question? what does this mean for investors? >> growth is recovering. we're moving the right direction. the most important number is claims. the big question, is it a sustainable recovery. at the same time, i would argue that inflation pressures are muted with 10% unemployment, so i think it's a fairly positive environment, generally for risk assets. >> thank you very much for that. what an honor to have both of you in the studio. >> and getting along. >> they did sit at opposite ends of the desk. >> don't get used to it. >>> coming up, we're going to check the pulse of the american consumer again. tiffany is coming back. >>> but first, how to avoid black friday. cyber monday and maybe get some shopping down. qvc is launching a new initiative to do just that. we'll tawith the president and ceo. we'll be right back. ♪ ♪ (announcer) some people just know how to build things well. give y
., citigroup, bank of america. the airlines have been positive all throughout the morn ing. maybe just on the fact that oil seems to be topping out. the international air transportation association made comments a few days ago on stronger air transportation. finally the steel stocks also having a great day. goldman sachs made positive comments on the overall group and upgraded u.s. steel. catalyst is simple. they think steel prices have bottomed, the chinese are active and the weak dollar will help steel. >> most of the stocks are down. the verdict is kind of mixed on the weekend. shoppers were clearly out in full force for black friday weekend. they were lured by big bargains. according to the national federation of retailers traffic was up better than 13% but shoppers surveyed spent about 8.5% less than last year. shopper track estimates friday's sales were up half a percent. the nrf says total spending for black friday weekend was flat at $41 billion. still, they saw signs of pent up consumer demand. >> there's a good deal of frugal fatigue for the consumer. they've done a great job
is the big drag on bank of america merrill lynch call. take a look, really ruffled the chips today. basically the outlook for demand for inventory they say is going to get weak here looking out into the fourth quarter and into next year. so that's their call. and that's what's really brought down the tech today. if we can take a look at our board of the stocks that are bucking the trend today. netapp is one of them after posting better than expected earnings. it is too the upside. one of the few within the nasdaq 100. directv turning positive this afternoon as liberty media shareholders approve a reorganization that's going to give it more autonomy. let's move on down to the nymex now and sharon epperson. >> bertha, it looks like risk appetite has subsided a bit today at least when it comes to investors being interested in energy in the commodities complex. oil prices fell nearly $2 today. the december contract below $78 a barrel. january right around $78 a barrel. keep in mind we are going to have the exploration of the december futures contract tomorrow. so january is where most of the volu
stocks on the new york stock exchange today led by citigroup, bank of america and ge. to pursue the life you want, you need a financial advocate who knows where you want to go. a merrill lynch financial advisor, now with access to the resources of bank of america, can help you diversify, rebalance, imagine, and believe. boss: ah! thank gecko: what's going on, sir? boss: we're slammed. tons of people interested in all the money they could be saving by switching to geico.. gecko: yeah, 'course. boss: boy, did we miss you last week. that temp wasn't working out at all. exec: took me all morning but i got those quarterly figures for ... you. (hissing noise, gulping) gecko: aw, he ate all my mints. anncr: geico. fifteen minutes could save you fifteen percent or more on car insurance. in the north of england to my new job at the refinery in the south. i'll never forget. it used one tank of petrol and i had to refill it twice with oil. a new car today has 95% lower emissions than in 1970. exxonmobil is working to improve cars, liners of tires, plastics which are lighter and advanced hydrogen t
>>> hey, i'm cramer, welcome to mad money. welcome to cray america ka. other people want to make frien friends, i'm just trying to save and make some money. my job is not just to entertain but to educate. so call me. all right, it's time to set some things straight about the stock market and the economy. to cut through all the misdirection and misinformation with some cold, hard facts. tonight, consider this a lecture from professor cramer with some crucial insights about how the market really works. and for those of you who caught me on the "today" show this morning, it's a continuation of the argument i was making. this day. that explains not just the dramatic rebound we had, and it was pretty dramatic, the dow was down 91 points, closed down 17, the s&p rallied almost .75%. the larger picture of what's going on with this stock market. here's lesson number one. stocks do not go up idly. ford motor doesn't go to a two-year high because ford motor is doing badly. it goes up because it's doing well! ♪ hallelujah >> costco doesn't hit a 52-week high -- >> house of pleasure. >> be
as for the banks that i own for the charitable trust. again, wells fargo and bank of america. the housing bears throw back in your face the terrible new home sales, the horrible housing starts, and that's just plain dumb. my whole bottom thesis was predicated on two points -- low mortgage rates -- and we've got the lowest. and a price reduction in homes to the point where home builders can't afford to build new ones. again, that's why i hit the home builders and why the thesis is working. existing home inventories are going down in an orderly fashion, causing the stabilization i have been talking about. so when the bears come up with a new excuse, the shadow inventory not to buy these stocks when they say that strong existing home sales don't matter because of the bugaboo of the shadow inventory lurking on the bank's balance sheets, i want you to think about regulatory forbearance. no forced home sales coming. and i want to show you what you have missed if you've listened to these bears so far and ignored my call. in other words, what i'm going to show you is the truth. i'm going to show you wh
clients who are in corporate america, we're seeing that pick up. we're seeing inventories were low going into this. we still like the technology sector. really very broad in the technology sector, just not one area. they have boat loads of cash, major players out there. we're going to see a lot of merge and acquisition activity in that area. we've seen some already. it's going to continue throughout the beginning of the year. >> richard and roy, thank you so much. >> thank you. >> thank you. >>> you know what it is. cyber monday. more people came out to shop on black friday. but spent less. electronics always hot items this time of year. how are sales fairing? what are the big friends? cnbc's silicon valley bureau chief jim goldman joins us from a best buy store in san jose, california, with more. >> reporter: good afternoon to you, michelle. this best buy in silicon valley just getting started for the day. not very prouded. the lines are a little shorter than anticipated here on black friday but nonetheless very busy indeed. black friday as you said may have shown some signs of life for
across america. so between calvin klein, van heusen, izod, and other stores we're performing well at retail. and then our department store channel our brands continue to perform because i think we really understand what the value message that the consumer is looking for, particularly in this environment. >> let's talk value message because i am confused by value message. a friend of mine is in the jeans business. sends me some jeans. i put them on. they're unbelievable. turns out they're at walmart. what do you do as a great manufacturer to be able to keep everybody happy? you've got fabulous stuff that you're going to be rolling out at walmart, but you have great stuff at macy's. you have super premium, and you have not premium. how do you keep them straight, and how do you keep your profit margin, how do you keep your customers happy? >> there's a couple of things. we believe in rung a portfolio company and not a mono brand. we believe that you take those -- your brand, the individual brands and you target them for specific channels of distribution. high-end department stores-f
moving toward more freedom. china, india, countries around the world, in latin america. as we move toward more freedom, i think over the long run, emerging markets, not only have been good investments over the past decade, or 15 years, but i think probably will be over the next 10, 15, or 20. you just have to be disciplined when you do it. >> right. and i think so you need professional help. i don't think this is the type of thing to plan on your own. you can if you want to be more of a speculator or market timer. really pay attention to this stuff. you can't just kind of -- i don't think you can take any particular country and say 20 years from now it will be better than it is now. >> i'm glad you got at least one disagreement in there. it does my heart good. it is the holidays. >>> black friday is traditionally the super bowl for brick and mortar retailers. find out which e-tailers will be the big winners towards online shopping. ♪ yes, you're lovely... ♪ what do you think? hey, why don't we use our points from chase sapphire and take a break? we can't. sure, we can. the points don'
of america, trying endlessly to get a ceo. and by the way, hey, look at them. might be the guy. i saw the article today in new york. i want to job, i'll take the job. i have a lot of experience. i do. anyway, we get the best investment banking house. it used to be called goldman sachs, now it's guiltman sachs. maybe we shouldn't judge the entire market daily. what would you think of that? that's what we do now that all stocks trade like a commodity. stocks are like wheat or soybeans. however, we can use the decline -- here's the silver lining -- to buy the stocks that aren't up enough year after year, even though they are clearly doing better than they were last year. and that goes for the defense of good stocks as well as the industrial. let's take the case of mcdonald's. we all know mcdonald's. i like the coffee. while we have a precipitous dip this year, do you realize the stock is rarely up despite the turn in sales, despite the much better than starbuck's coffee? if you perform the same smoothing over exercise from nucor, does that seem right to you? when you smooth out federal e
, gdp grew more slowly. so what does this mean for the economy and america's road to recovery? let's ask -- and rick santelli has also joined us, too. how sensitive are you to the data coming through? we've also got a bond option this afternoon. it's a busy old day. >> it is a busy day. sensitive. i think it doesn't change the picture. the economy's come out of the recession, but not like a bull stampeding. just out of the gate. i expect we'll see about same this quarter. less consumer spending on cars. more on holiday sales, so the great e session is over. i think we can sustain economic momentum, but sometimes call it a half speed recovery because normally, you would expect gdp to be growing 6 to 7% and here we are at barely 3. >> so many people discounted it, saying it was juiced by government stimulus. how do you feel about that number? >> let's just take what real gdp was 2.8%. nominal was 3%. this is the majorgic of the bea. the dollar was collapsing. even home prices increased in q3. commodities were up across the board, so how did they get .5% at an annual rate is beyond me. what
, was down about 70 at one of its worst levels. j.p. morgan down 2%, bank of america and citi under pressure. health care and telecom two of the bright spots. another data heavy day tomorrow. there is the bell and the "closing bell" continues in just a second. [ bell ringing ] >>> it is 4:00 p.m. on wall street. do you know where your money is? i'm sue herrera in for maria bartiromo who is on assignment in singapore. here is what we are following at the close. stocks struggling on wall street, way down by disappointing readings on third quarter gdp but significantly off the lows of the day. the federal reserve releasing minutes from the latest meeting and the central bank raised gdp growth forecast for next year and trimmed unemployment outlook. >>> gm's deal to sell saab falling through. we look at what that means for saab and gm's future. here is how we are finishing the day on wall street. the dow jones industrial average down 16.5 points at 10,434, the s&p down half a point, briefly peaked in the positive 1105, the nasdaq is down 1/3 of a percent at 2169. back down to scott. our eye on t
. and 1300 are secretly checking email on a vacation. that's happening now. america's most dependable 3g network. bringing you the first and only wireless 4g network. right now get a free 3g/4g device for your laptop. sprint. the now network. deaf, hard-of-hearing and people with speech disabilities access www.sprintrelay.com >>> happy friday, everybody. the boj upgrades its assessment of the economy. >> i'm becky meehan in europe. we have our first president in europe, but who is herman van rumpoy. >> and i'm matt nesto. the u.s. is standing behind tim geithner as treasury secretary as congressmen call for him to resign. >> let's take another economic on some of the action. the ftse cnbc global 300 index is still higher by 7 points. .17%. the europon bourses are still gaining a bit of ground. the ftse is now higher by .75%. almost .7% higher for the dak and the cac is not far behind. the smi is still moving higher, but just high of .5% higher. now, in the forex markets, it looks like this. we are watching dollar/yen at 88.85. the euro and sterling both losing a little bit of ground agai
america in 2008. brazil was mentioned as an your area of strength. whirlpool's brazilian sales up 40% in its most recent quarter. what were they doing before? i mean, what were they using if it's up 40%? i mean, holy cow. must be stones and water. you want something in the middle. between the jarreden and whirlpool, new name. new rubbermaid. nwl. another name that reported better than expected growth in october. this is a company in the process of a transformation that should make it more profitable. rubbermaid has been getting out of existing low margin commoditized product lines since the fourth quarter of 2008. mark ketchum's running it. he's really smart. by the end of this year the company expects commoditized products to represent only 4% of sales, down from 12% in 2007, 44% in twoolth. th 2003. this company's been shutting down manufacturing facilities, moving them overseas. 80, now down to 40. and the company's outsourcing more and more of its production. source production up from 2005. that's not what we want as americans trying to put people to work. it's what we want as ru
. that's happening now. america's most dependable 3g network. bringing you the first and only wireless 4g network. right now get a free 3g/4g device for your laptop. sprint. the now network. deaf, hard-of-hearing and people with speech disabilities access www.sprintrelay.com sprint. the now network. [bell ringing] the way the stock market's been acting lately you may wonder if you've been doing the right thing. is the advice you've been getting helping or hurting? are the fees you're paying really worth it? td ameritrade's fees are fair and straight-forward. their research is independent and unbiased. their investment consultants are knowledgeable and there when you need them. so why not talk to one? announcer: call today to schedule a free investment check-up, or visit a td ameritrade branch. >>> here your headlines just before the bell on this tuesday morning. home prices up slightly in september. that's just in comparison to august. fourth month of that sort of a gain compared to a year ago, they are still down and on average back to their levels of 2003. gdp meantime was revised lower
students who shared their secrets with keeping america great. but our own becky quick had a chance to walk around the campus with these two legends in a day. we're going to share some of those most insightful comments with you. >> i know you spend a lot of time focusing and studying on all kinds of events, including diseases going around the world and i'm dying to ask you a question. would you have your kids get the h1n1 vaccination? >> sure. as that becomes available, i think everybody should have it. >> today, novartis is cutting to ribbon on the company's first cell vax even making plant. these are cheaper and faster to make than using eggs. our own mike huckman is there until the research area this morning. mike. >> reporter: good morning to you, steve thp the afternoon, more than 200 employees, executives and dignitaries, including the ceo of novartis, the secretary of health and human services and the governor of north carolina will be here to formally open this state of the art first of its kind facility in the united states. it's located in holly springs, just outside of raleigh. n
. the heavy concentration of dubious mortgages in california. it got us to buy bank of america, suntrust, you name it. right down the food chain, fifth third and huntington bank. the not so hot and emerging players cake their cue and they bid them up behind the generals. now, what can the leaders tell you? in the best of times stocks never go up in time. pullbacks you have to view through the lens of the leaders. these pullbacks cause a lot of people to panic. or at least decide the bull run must be over. >> sell, sell, sell. >> the leaders are just taking a breather before they head higher. if you understand that they are part of a pattern and know how to follow it, you'll be less likely to jump to the run bearish conclusion and scare yourself into missing positive moves. let me tell you what a sell off looks like. the hottest group tanks, then the leaders all roll over. with the leaders down, everything else gets crushed, too. as all that's happened, more and more people come on television explaning how this is the big one, it's the beginning of a huge correction, a monstrous move that will
's a big girl car. i want the big girl car. a very smart little girl. the chevy traverse. america's best crossover. compare us to anyone and may the best car win. but in business, only two matter: red and black. red, well, no one wants that. black on the other hand, has strength. black is always in style. it's what business looks best in. black is where growth and success happen, and it's easier to get there and stay there in ontario, canada, especially with our competitive tax rate. ♪ ontario, canada - the world works here. >>> oh, yeah, we're back. we're live on the floor of the new york stock exchange. s&p is down 6.70. looking at a loss of maybe 50, 60 points on the dow at the open. not at all what gordon charlop told us to expect. you're on the floor. the man, the myth, the legend, dr. know, gordon charlop, managing director of rosenblatt securities as well as a cnbc market analyst. it takes forever just to introduce you. >> thank you. i would appreciate that. a little enthusiasm here. >> so many credits to your name. >> kind of like, i consider being here one of your credits. let
portfolio prepared for that eventuality. >> all right. well, we're not in the buy america camp here, but, okay. happy thanksgiving. >>> we're on the way to the final countdown on the other side of the break. at least for today we will have a sharply higher open for dollar denominated stock on the big board. >>> you are watching cnbc "squawk on the street." we are in downtown manhattan, financial capital of the world. the opening bell is going to ring in just about -- just under four minutes. >>> welcome back, folks. in the headlines at this hour, gold if you haven't heard, yet another new high. $1170 an ounce is behind us now. and the national association of business economists are calling for growth in 2010. and they say that companys will start hiring again, albeit slowly. >>> soup isn't just good food, it may be a good investment. campbell's with a profit last quarter up 17%. >> as we count you down to the opening bell, joining us from the cme group is george kachut,broker with the rnb group. we have a little bit of a laugh at your expense. okay. what are we looking at today. does it
, the big issue in technology, the nasdaq was down yesterday because bank of america, merrill lynch downgraded. first, this gives you an overall picture of where the chip stocks are. this was intel, which was hammered yesterday. it's down almost 1% again today. so that's the real story here. technology a clear laggard in the overall market led to the downside by the disappoints earnings from dell. that was on top of a rough day because of the chips as well. >> thank you very much. >>> now, stocks are showing resig yensy in the face of bearish news. so what's next and where should your money be? let's ask jerry and drew -- hello, gentlemen. jerry, start with you. you have some bad news. lousy dell earnings, home foreclosures, weak economic starts. is the glass half full or half empty. >> i think it's half full. we're going to see bad news, a market that's got some flugsuation, but we've got markets that are fairly priced and have some upside of the risk markets. >> look, the stock market is pausing, but is this the pause before the next year end breakout to the upside? >> you could c
the nasdaq lower, that was bank of america, merrill lynch downgrading a number of chip stocks. the bleeding continues in the semiconductor index there. look at some of the internal names within the index. we're looking at intel. again, big loser yesterday. was down 3.5% to 4% yesterday. getting back another two-thirds of 1% today. however, let's end on a high note here. let's talk about zoomies. lots of talk about retail sales. teens, maybe a little younger than that, how these companies are doing as we approach the holidays. zumiez gave a good outlook from a margin standpoint. that stock off to the races today. up better than 10%. let's go to sharon at the nymex. >> we can blame the dollar for the losses we saw today in the oil complex. we are looking at december futures that are under $77 a barrel. they have expired now. january is the front month. it is below $78 a barrel. but the one part of the complex that got a bit of a bid today is the gasoline market. and that was because of the valero closing one of the large plants on the east coast in delaware city. a 210-know-barrel-per-day cit
on a vacation. that's happening now. america's most dependable 3g network. bringing you the first and only wireless 4g network. right now get a free 3g/4g device for your laptop. sprint. the now network. deaf, hard-of-hearing and people with speech disabilities access www.sprintrelay.com a luxury car that virtually parks itself. one of 12 world's first innovations. the lexus ls. inspiring an industry. >>> you know that we believe that the national price of housing has stabilize on the show you go that does not make it safe or smart to own home builders. inventory's down from august, from the supply. it's down 15% from a year ago. again where we get on equilibrium to housing prices. and toll brothers did manage to put up a stellar quarter last week. i think toll, mostly the expensive homes, is an outliar. more important for the builders of homes, new housing starts where we just learned down 10.6% in october. something that depletes inventory of unsold homes but makes this sector of home builders even less attractive than i thought and i have hated this group for a long time. it's not count
's really been the right way to be. >> specifically where would you go, david? >> microsoft, bank of america, schlumberger, and johnson & johns johnson. picking up on the technology theme you just mentioned, the johnson & johnson is a global health care enterprise. the market is up 21%. j & j is up 4% on the year. we think those a globally positioned defensively-styled name with a nice yield. bank of america, we could see them earning $27 billion after tax in two years divide by 9 billion shares, $3 a share times a ten multiple gives you a $30 stock price. and schlumberger, our friends in venezuela, dubai, they can't touch their oil without the schlumbergers of this world. >>> it's black friday, the super bowl for retailers, but are could be s consumers showing up in full force? julia boorstin is at the best buy in los angeles with some answers. julia, it feels like you have been standing there forever. >> reporter: simon, i have to say we have been here for many hours, and so have all of these shoppers. it really does seem like they're turning out in force and the national retail federation
've been watching what's happening in corporate america right now. kraft foods reportedly saying it may raise its offer for cadbury or maybe offer more cash in its bid if rival takeover offers emerge. hershey's, which is -- hershey and italy's fererro are all now considering bids. cadbury's chairman would prefer a merge with hershey rather than kraft, which is understandable since kraft went hostile. but he also was quick to caution that both bids could fail if they're not generous enough. i think they're talking about more than $17 billion. something like 750 pence, they are looking at 800 pence per share is more likely deal they'd consider. >> this was out over the weekend, ken lewis would consider postponing retirement if directors need him to have more of a bridge to find a succe successor. "the journal" says he has no plans tobacktrack, but he's indicating he could act as a bridge until a successor is found. the bank has been having a difficult time finding a replacement. >>> 124 u.s. banks have failed this year. regulators shutting down commerce bank on southwest florida on friday
, down nearly 9%. merrill lynch bank of america raised earnings expectations through 2010. the analysts telling clients that amazon should continue to benefit this holiday season from the shift toward online shopping. amazon shares up 2.5% tonight. >>> deere upgraded by morgan stanley, to 64, up from 48, citing higher corn prices and improving demand for farm equipment in the united states. >>> retailers in the home stretch, leading up to black friday, the day after thanksgiving in the u.s. a critical day for the industry right now. and certainly a critical time across the board. jane wells is in los angeles right now with more on the company's gearing up and how they are gearing up for the potential of a holiday price war. jane? >> reporter: yeah, they're calling it store wars. the group says only 12% of shoppers plan to start their holiday shopping next weekend. they said most plan to wait. that hasn't stopped retailers from doing everything to get you into stores now. e-mailing directly to consumers. best buy promoting a camcorder for 150 bucks. a 32-inch samsung tv for under $400. a
to shop until you drop. a crucial weekend for retailers and for america's economy. take a look at black friday and why it matters and what it means. we will tackle a big subject, the future of capitalism with an all-star panel. a former presidential economic adviser and a man who runs a media empire and author turned strategist. we will talk job creation and innovation and the government. is the capitalist system broken, and can it be fixed and where do we go from here? the "wall street journal report" begins right now. >>> this is america's number one financial news program, the "wall street journal report." now, maria bartiromo. >>> now, here is bill griffeth with some of the stories making headlines this week. bill? >> thank you, maria. here's a look what's making news as we head into a new week on wall street. black friday has now come and gone, that day when many retailers hopefully move into the back and turn a profit for the year. and now analysts will be watching cyber monday, the start of the online holiday shopping season. the national association of retailers expects consumer
to become a dominant force and the dependants on exports in america was going to decrease. >> you mentioned ex ports, though. we had some data. just remember what we had out from the business ifo index. 93.9, versus consensus of 92.5. they're talking about ex ports feeling very strong. christian blaabjerg has joined us with this, as well. the ifo says companies are more upbeat on the ex ports. just talk about the china story there, christian. how much do you take from what the ifo is saying? >> well, basically, i pretty much great with the speaker that china is going to drive the demand for western goods. we believe that capital flows and export flows are going to reverse. that will be a major theme for the coming years simply on the back of that the chinese will import more from us and export less and capital flows that investments going from china is going towards the european and u.s. countries regions and on the other hand, that is the main theme that we are playing at. >> christian, you know, every day, i read. yesterday was nab, citigroup talking up the economy here. and yet today, we
thanksgiving day parade end up. so macy's, the biggest department store chain in america, this is their flagship store. and we will see who comes in at 5:00 a.m. eastern time in new york and there will not be sobriety checks tt at the door. >> matt, you know what it's like to get up early. why would you get up to be there at 5:00, you would have to get up at 4:00. why would you do that? it's a question for the ages, roscoe. it used to be the low end retailers, but now it's becoming mainstream. if you're not in and up early, then you're out. i understand top shop downtown somewhere is offering a full english breakfast to those who come in. >> if i was going to shop, i would need a full glsh breakfast before i could even think about spending some money. so we'll see. we'll see who got up that early to go shopping. right. let's find out what's happening with the currency markets. big focus today, particularly on the yen. we've got 84.82 against the dollar. it's sort of los lost some ground on that particular cross rate. and the dollar strengthened, as well. we're not quite o
a bit of breakage. chip names under pressure, bank of america downgrading the sector. inventories are close to overshooting demand. that's taking down the nasdaq as a whole. greg, does this start a breakdown here? >> last week, we looked at the fact that the 22-24 on the chart was decent resistance. that dates back to 11 or 12 months ago. i think names like apple, cisco and ibm are due for a correction here. the only odd component of this index might be if you look at microsoft. it's 10% of the waiting of the index. i think it holds kind of steady, but i think this and the financials are the catalysts for this correction. >> are you picking up any names today? >> i'm not picking up any names, but just to keep in mind, as a fast money trader, let the market tell you if this is going to be the top and we need to see volume come in. back to the semiconductors, where they come down to key levels like intel, let it consolidate and see if it can hold above those levels. >> greg, i want to talk about microsoft because of the comments made today just within the past hour or so. balmer say
, the film made $140 million in north america alone. the best debut of the year and third best all time behind "the dark knight" and "spider-man 3." did shatter the record for the best opening day taking in $72 million in the u.s. and canada, best opening day on friday. how about that? >>> well, on a different note. in these times of economic strains, we have ten tips to bring down your personal debt. check out our website. cnbc.com for more. it's free. there's a tip right there. get free financial advice. save money. that's number 11. >>> coming up, gold at another record price north of $1,165 an ounce. we're going to analyze the consequences on the currency market. >> i've got a tip, don't spend money on gold. >>> just over 149 at the moment, 149.73, we'll get the latest on the currency markets after this very short break. >>> welcome back to the show. let's focus in on the currency markets. the dollar is currently trading 1.4969 on the euro/dollar. comments from dominic strauss saying it's too early for a general stimulus exit. the economy's improving, but highly vulnerable. given th
. yesterday, the big story was bank of america merrill lynch downgrading semiconductor names. the sox is down 1.5%. intel down. that's on top of the 3.5 to 4% decline yesterday. >> did you notice the turn around in gasoline? we've seen gasoline futures pop up and oil come off the lows of the session after valero announced they're shutting a refinery in delaware. it was only operated about 75,000 barrels per day for the first eight months of the year. and it's not the only refinery to shut in the last year. we also have the aruba plant that shut in january. also, take a look at what's happened at the eagle plant. so, a number of refiners shutting and the fact the dollar is off its highs of is session helping oil come off its lows. >> i love what you just brought up. let's stick with that product. to do so, it's all about building a base. yesterday's highs, notice today, outside our time zone, we flew up. now, we're starting to test those same levels. let's call it around 75.5 or so. and even at this level, truth be known, we're only up about a third of a cent on the week. what were yesterdays
to understand they need to have more assets outside america than inside. >> bill, that almost sounds like fighting words for you because you've been relatively bullish for some time now on the u.s. economy. >> i know. it's like i have to apologize for that. bottom line is the best values in the world are right here in the united states. you look at the todollar taking break and creating a lot of action for the big, multinational exporters. that's where it's going to be for the next several quarters. you're going to see an inventory build. slow, slow, it doesn't happen overnight, but you've got to manage risks. i don't agree on buying expensive, foreign stocks. >> what about the fact we've had this huge run-up in stocks? aren't you taking on a lot of risk? >> well, they cut them in half and are on sale. you've got low interest rates, staggering amounts of capital. $200 million in free reserves, don't discount that and the bears are crying all 4,000 points. it's this, it's that. little by little, people are sticking their toe by in. the bankrupt boys are going to lend again and it will retu
the u.s. army or some certain units, at least, in north america. they're setting their sights on higher margins and fairing relatively well. although what we are hearing from them are a number of companies that support these days is that they're very cautious due to the lack of transparency in their key markets. i just lost my hearing ball, it got pulled out from the floor by some snake down there. so i'll send it back to you. >> louisa, that does happen. the cords are lock and sometimes the wheel on your chair will do that. the dollar is the key driver of the overall markets right now. we're joined by a special guests, he's famous, the world affectionately calls him mr. yen. he's isuki sakabara. he served as japan's vice finance minister for international affairs and we welcome you. and it is a long way off where we're talking to you, so there's a delay. but sir, i guess let's start with what we've seen with the dollar versus many currencies, but what has been the most significant move and do you expect these moves to continue? >> well, as we get to the dollar/yen, it is below the leve
to see you, mark. coming up america enters the twilight zone. got your tickets. >> hoping you were going to take. >> you're what they look for. they go again and again for these romance type things. >> i don't want to say with you people will wonder who is that guy, what's he doing. >> right. right. >> state of the states, how local governments are handling plunging home prices and rising rates. more "squawk box" right after this. hi, ellen! hi, ellen! hi, ellen! hi, ellen! we're going on a field trip to china! wow. [ chuckles ] when i was a kid, we -- we would just go to the -- the farm. [ cow moos ] [ laughter ] no, seriously, where are you guys going? ni hao! ni hao! ni hao! ni hao! ni hao! ni hao! ni hao! ni hao! ni hao! ni hao! ni hao! ni hao! [ female announcer ] the new classroom. see it. live it. share it. on the human network. cisco. for over 150 years, wells fargo has been putting our clients first. according to a leading independent research firm, in 2009 clients rated wells fargo advisors the #1 u.s i
graph -- geographic diversification. just 30% of sales come from north america, 22% from the rest of the world. it's part of the reason the stock is on speculative friday. seating should make up 81% of lear sales, most of the growth is coming from the electrical and electronics business. represents 60% of the company's backlog. it makes sense. given by 2012, 40% of the cost of the vehicle is coming from electronics. lear is one of the top companies in the electrical distribution systems market. wireless, lighting, info for cars. if you buy lear, you are getting a company with a reputation, even before bankruptcy. they underpromised and overdelivered. in the final quarter, the company established a pattern of issuing conservative guidance and beating it substantially. i think the numbers, estimates for 2010 are too conservative. i think they will be easily beaten. the stocks are cheaper than the other stocks. i call it 18% discount. this company should be selling at a premium. even though it's already up 26% from where it started trading ten days ago, i think it can go much higher.
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or click today. somewhere in america, there's a home by the sea powered by the wind on the plains. there's a hospital where technology has a healing touch. there's a factory giving old industries new life. and there's a train that got a whole city moving again. somewhere in america, the toughest questions are answered every day. because somewhere in america, 69,000 people spend every day answering them. siemens. answers. >>> good morning. global markets reacting to a debt crisis in dubai. we're turning to the bond boss, mohammed el-erian. >> power of the pen, fed chairman ben bernanke in his own words, why he said congressional reforms could spell trouble for the u.s. financial markets. >>> holiday central. the retail industry officially kicking off the holiday season. the head of one of the nation's best known outlet malls is here. americansopping but are they dropping. final hour of "squawk box" begins right now. >>> welcome back to "squawk box" here on cnbc, first in business worldwide. i'm joe kernen along with becky quick and carl quintanilla. our guest host is andrew ross sorkin fr
of the domestic consumer markets in america which can continue to exist while there's another part of the american economy that really lags. >> when i read these comments, st. louis president of the over the weekend and other fed presidents, if the weak dollar's good for stocks, it certainly looks to me like we're going to have some good upward stock prices no matter what you think about the economy. isn't that the true landscape, john? >> unfortunately, you're right. there's not going to be anything but weak dollar. to if we're talking weak dollar and if that's good for stocks, which is certainly appears to be so far in the last several months, in fact, that has been the play, i -- the thing i'm most surprised by today, rick, is the rallies that we're seeing in the managed care stocks. and in the health care plays after the senate pushed this bill this weekend. now, it's not a done deal, that bill, of course. the fact you've got cig na up 6% and a number of others up 3%, 4%, 5%, that's the most surprising thing today to me. >> it's an insurance friendly health care bill. so i think that makes som
in america and we need unemployment to stabilize. that's the key to get them shopping more. >> we'll talk more about the tone for the holiday season and discounts and inventories after the break. if you have comments or question, drop us a note. squawk@cnbc.com is our address. we'll go through our black friday list. shoppers looking to get deals on sporting goods and we'll talk to best buy ceo here and what they see. there's l.a. that's best buy in l.a. dental bills... gazooks. you need a back-up plan ho, ho, ho. that's why we have aflac! so i'll have cash to help pay bills! great...but what if you're still not better by christmas? hmm... afllaaccccccccc!!!!!!! (santa): aflac. we've got you under our wing. rudolph's better... but now blitzen's sick! >>> while you were enjoying your turkey yesterday, the global markets were selling off and futures here are taking their turn. markets in the u.s. are closing early today in the states but stocks around the globe are reacting and have reacted to concerns about dubai debt rescheduling. that news comes as investors close out the year with sharp
. >> absolutely. look across corporate america, we will break a record this year in new bond issue wans. they're taking out their liquidity concerns. >> if you could tell us, sir, why is the u.s. selling so many bonds on such a short range? why not go with 20 and 30-year far more so than two-years? >> i think it's a supply and demand thing. at the end of the day, we still rely, for good or bad, on our major trading partners who tend to like three years and five years. beyond that and inflation becomes a concern which means demand becomes a concern and costs will go up in a hurry. >> does it worry you or perhaps better said, what is the market telling you when we see so many trades going into the shortest end of the yield curve even at the same time wall street is doing well? it seems as though there's a fear trade out there. >> there's a reach for yield. when money funds yield zero point something, the other is to take credit risks. we think with an economy starting to grow a little bit, you may as well reduce your interest risk. >> so you don't see this as people fearing that second double d
every night. why not talk to someone who's sleeping on the most highly recommended bed in america... it's not a sealy... or a simmons... or a serta... ask me about my tempur-pedic. ask me how fast i fall asleep. ask me about staying asleep. these are actual tempur-pedic owners! ask someone you know---check out twitter... try your fiends on facebook. you'll hear it all...un-edited. ask me how it feels after 10 years. ask me if it's a good value. just ask me. there are over 4 million tempur-pedic owners! and they're more satisfied than owners of any traditional mattress brand. ask me why i feel better every morning. ask me why someone who's never had an ache or a pain is in love with this bed. start asking real owners. ask me how we took the first step... take the first step! call today for your free information kit with dvd. call the number on your screen or visit tempurpedic.com. tempur-pedic. the most highly recommended bed in america. >>> okay. we're going to see what's happening around the globe. kicking off with emily in hong kong. >> that's right. and we had that nice debut, a newc
. a merrill lynch financial advisor, now with access to the resources of bank of america, can help you diversify, rebalance, imagine, and believe. >> the senate is gearing fup ar a key health care socialism. we'll told steve handlesman joins us now with the full story. hello, steve. >> senate democrats say they're not assuming anything. and here on capitol hill, snog a lock until it's actually done. but to a lot of insiders up here, this is looking like a democratic win tomorrow night. as debate foerps clotur cloture reid needs every democrat to vote yes. >> i've only been asked 30 or 40 times do you have 60 votes? we're not assuming a thing. we're working hard to get all democrats together. holdout ben nelson says he'll vote aye. he insisted that insurance companies not be stripped of the antitrust kpempgs they enjoy. arkansas's blanche lincoln, seeking re-election in 2010, under a lot of pressure from both sides will not say how she will vote. moderate montana democrat max baucus won't see for sure if he'll return to washington tomorrow night. and louisiana's mary landrieu has not co
. >>> and the emerging rift between democrats on how to get america back to work. the question is, can we afford another job spill? fasten your seatbelts. "the kudlow report" starts right no now. >>> good evening. i'm simon hobs. larry kudlow has the night off. not one but two fed presidents leave the market no doubt america's central bangles will be the last to tighten the policy stocks rally 132 points to close at a high for 2009. gold is higher with another record. and that is while existing homes sell at the fastest rate in over two years. here's the rundown on today's market action. scott has a full report. >> reporter: it was the dollar driving the direction of gold. at one point at 11.70 an ounce. it pulled back a bit but all of the metals on the back of the weak dollar had a stellar day. silver, platinum and copper hitting new highs today. other commodities doing quite pell as well. oil and energy stocks up, too. salai securities upping their 2010's earning target. even health care stocks, one of the best-performing sectors today, despite the fact that the health care reform debate moves to the
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